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Ripple Price (XRP) Struggling To Recover Amid Negative Sentiment

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Ripple Price (XRP) Struggling To Recover Amid Negative Sentiment

Ripple price struggled to climb above the $0.3060 level and recently declined against the US dollar.The price is trading with a bearish angle below the $0.3020 and $0.3010 levels.XRP/USD is about to break a connecting bullish trend line with support near $0.2995 on the hourly chart (data source from Kraken).The pair is likely to accelerate losses if it settles below $0.3000 and the 100 hourly SMA.Ripple price is struggling to continue higher against the US Dollar, while Looking at the chart, ripple price is clearly struggling to continue higher and is testing the key $0.3000 support area. If the bulls continue to struggle, there are high chances of a fresh decline below the $0.2980 and $0.2950 levels. The main supports on the downside are near $0.2920 and $0.2900.Technical IndicatorsHourly MACD – The MACD for XRP/USD is gaining momentum in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level.Major Support Levels – $0.2980, $0.2950 and $0.2920.Major Resistance Levels – $0.3020, $0.3060 and $0.3100.

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Author: Aayush Jindal

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